(1) A title lender shall: (a) post in a conspicuous location on its premises that can be viewed by a person seeking a title loan: (i) a complete schedule of any interest or fees charged for a title loan that states the interest and fees: (A) as dollar amounts; and (B) as annual percentage rates; and (ii) a telephone number a person may call to make a complaint to the department regarding a title loan; (b) enter into a written contract for the title loan containing: (i) the name of the person receiving the title loan; (ii) the transaction date; (iii) the amount of the title loan; (iv) a statement of the total amount of any interest or fees that may be charged for the title loan, expressed as: (A) a dollar amount; and (B) an annual percentage rate; and (v) (A) the name and address of the designated agent required to be provided the department under Subsection 7-24-201(2)(d)(vi); and (B) a statement that service of process may be made to the designated agent; (c) provide the person seeking the title loan a copy of the written contract described in Subsection (1)(b); (d) prior to the execution of the title loan: (i) orally review with the person seeking the title loan the terms of the title loan including: (A) the amount of any interest rate or fee, expressed as: (I) a dollar amount; and (II) an annual percentage rate; and (B) the date on which the full amount of the title loan is due; and (ii) provide the person seeking the title loan a copy of the disclosure form adopted by the department under Section 7-24-203; and (e) comply with the following as in effect on the date the title loan is extended: (i) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., and its implementing federal regulations; (ii) Equal Credit Opportunity Act, 15 U.S.C. Sec. 1691, and its implementing federal regulations; (iii) Bank Secrecy Act, 12 U.S.C. Sec. 1829b, 12 U.S.C. Sec. 1951 through 1959, and 31 U.S.C. Sec. 5311 through 5332, and its implementing regulations; and (iv)Title 70C, Utah Consumer Credit Code.

(a) post in a conspicuous location on its premises that can be viewed by a person seeking a title loan: (i) a complete schedule of any interest or fees charged for a title loan that states the interest and fees: (A) as dollar amounts; and (B) as annual percentage rates; and (ii) a telephone number a person may call to make a complaint to the department regarding a title loan;

(i) a complete schedule of any interest or fees charged for a title loan that states the interest and fees: (A) as dollar amounts; and (B) as annual percentage rates; and

(A) as dollar amounts; and

(B) as annual percentage rates; and

(ii) a telephone number a person may call to make a complaint to the department regarding a title loan;

(b) enter into a written contract for the title loan containing: (i) the name of the person receiving the title loan; (ii) the transaction date; (iii) the amount of the title loan; (iv) a statement of the total amount of any interest or fees that may be charged for the title loan, expressed as: (A) a dollar amount; and (B) an annual percentage rate; and (v) (A) the name and address of the designated agent required to be provided the department under Subsection 7-24-201(2)(d)(vi); and (B) a statement that service of process may be made to the designated agent;

(i) the name of the person receiving the title loan;

(ii) the transaction date;

(iii) the amount of the title loan;

(iv) a statement of the total amount of any interest or fees that may be charged for the title loan, expressed as: (A) a dollar amount; and (B) an annual percentage rate; and

(A) a dollar amount; and

(B) an annual percentage rate; and

(v) (A) the name and address of the designated agent required to be provided the department under Subsection 7-24-201(2)(d)(vi); and (B) a statement that service of process may be made to the designated agent;

(A) the name and address of the designated agent required to be provided the department under Subsection 7-24-201(2)(d)(vi); and

(B) a statement that service of process may be made to the designated agent;

(c) provide the person seeking the title loan a copy of the written contract described in Subsection (1)(b);

(d) prior to the execution of the title loan: (i) orally review with the person seeking the title loan the terms of the title loan including: (A) the amount of any interest rate or fee, expressed as: (I) a dollar amount; and (II) an annual percentage rate; and (B) the date on which the full amount of the title loan is due; and (ii) provide the person seeking the title loan a copy of the disclosure form adopted by the department under Section 7-24-203; and

(i) orally review with the person seeking the title loan the terms of the title loan including: (A) the amount of any interest rate or fee, expressed as: (I) a dollar amount; and (II) an annual percentage rate; and (B) the date on which the full amount of the title loan is due; and

(A) the amount of any interest rate or fee, expressed as: (I) a dollar amount; and (II) an annual percentage rate; and

(I) a dollar amount; and

(II) an annual percentage rate; and

(B) the date on which the full amount of the title loan is due; and

(ii) provide the person seeking the title loan a copy of the disclosure form adopted by the department under Section 7-24-203; and

(e) comply with the following as in effect on the date the title loan is extended: (i) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., and its implementing federal regulations; (ii) Equal Credit Opportunity Act, 15 U.S.C. Sec. 1691, and its implementing federal regulations; (iii) Bank Secrecy Act, 12 U.S.C. Sec. 1829b, 12 U.S.C. Sec. 1951 through 1959, and 31 U.S.C. Sec. 5311 through 5332, and its implementing regulations; and (iv)Title 70C, Utah Consumer Credit Code.

(i) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., and its implementing federal regulations;

(ii) Equal Credit Opportunity Act, 15 U.S.C. Sec. 1691, and its implementing federal regulations;

(iii) Bank Secrecy Act, 12 U.S.C. Sec. 1829b, 12 U.S.C. Sec. 1951 through 1959, and 31 U.S.C. Sec. 5311 through 5332, and its implementing regulations; and

(iv)Title 70C, Utah Consumer Credit Code.

(2) If a title lender extends a title loan through the Internet or other electronic means, the title lender shall: (a) provide the information described in Subsection (1)(a) to the person receiving the title loan: (i) in a conspicuous manner; and (ii) prior to the person entering into the title loan; and (b) in connection with the disclosure required under Subsection (2)(a), provide a list of states where the title lender is registered or authorized to offer title loans through the Internet or other electronic means.

(a) provide the information described in Subsection (1)(a) to the person receiving the title loan: (i) in a conspicuous manner; and (ii) prior to the person entering into the title loan; and

(i) in a conspicuous manner; and

(ii) prior to the person entering into the title loan; and

(b) in connection with the disclosure required under Subsection (2)(a), provide a list of states where the title lender is registered or authorized to offer title loans through the Internet or other electronic means.

(3) A title lender may not: (a) rollover a title loan unless the person receiving the title loan requests a rollover of the title loan; (b) extend more than one title loan on any vehicle at one time; (c) extend a title loan that exceeds the fair market value of the vehicle securing the title loan; or (d) extend a title loan without regard to the ability of the person seeking the title loan to repay the title loan, including the person's: (i) current and expected income; (ii) current obligations; and (iii) employment.

(a) rollover a title loan unless the person receiving the title loan requests a rollover of the title loan;

(b) extend more than one title loan on any vehicle at one time;

(c) extend a title loan that exceeds the fair market value of the vehicle securing the title loan; or

(d) extend a title loan without regard to the ability of the person seeking the title loan to repay the title loan, including the person's: (i) current and expected income; (ii) current obligations; and (iii) employment.

(i) current and expected income;

(ii) current obligations; and

(iii) employment.

(4) A title lender has met the requirements of Subsection (3)(d) if the person seeking a title loan provides the title lender with a signed acknowledgment that: (a) the person has provided the title lender with true and correct information concerning the person's income, obligations, and employment; and (b) the person has the ability to repay the title loan.

(a) the person has provided the title lender with true and correct information concerning the person's income, obligations, and employment; and

(b) the person has the ability to repay the title loan.